Life is like a game of cards: the hand that is dealt you is Determinism, the way you play it is Free Will
The DJIA (30) so far has held above the triple zero breakthrough, although the broader market - SPX (500) has not yet pierced the zero mark of 2000. Various indicators - seasonal, cyclical, technical, and even fundamental- are suggesting a breather after 5 1/2 years of Bull. Although the Investors Intelligence Bulls have dropped below the 60% mark (to 56%), the Bears are now at 15.1%. For more sentiment indicators, please go to:
http://mktsentiment.blogspot.com. Also, Ned Davis Research - NDR- reports his Bullis % is calling for a correction, per Liz Ann Sonders of Schwab.
Wild rides in the markets, even gold - with 30 and 20 point swings; commercial insider sellers are still huge despite the global turbulence. Still the VIX ended up exactly where it was the prior week.
SHOCKER of the week - In one of my ubiquitous newsletters from John Mauldin (everyone should get these) he divulged that my Go To stock channel - CNBC- has declined, a la the St. Louis (McDonalds) Arch, to only 109,000 viewers a day - amazing; that is like family and friends! And this is after they bailed out my other fave program - Nightly Business Report. Apparently John and Jane Public are still not back into the stock markets, except for ETFs and mutual funds, as Volume keeps getting less and less as we approach the Dog Days.
Here are a couple of thought-provoking questions to start the week:
As much TV as I watch, with the endless parade of redundant headlines, when reporting how bad unemployment is, despite the falling rate, especially for the Millenials - why no one talks about how not working impacts Social Security and pension contributions for eventual retirement - which are already in trouble. It might help to take the fraud out of Medicare and Disability claims. 10% for Medicare ($80B of the annual $800B budget!).
Another sodden thought, posed by local politician Willie Brown: if the Supreme Court judged that a corporation is a person when it comes to campaign contributions, why can it not serve a 10-year prison sentence????